Pegasystems Inc. $PEGA Shares Acquired by Legal & General Group Plc

Legal & General Group Plc lifted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 189.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 150,151 shares of the technology company's stock after purchasing an additional 98,328 shares during the period. Legal & General Group Plc owned about 0.09% of Pegasystems worth $8,128,000 as of its most recent filing with the SEC.

• Time to Take Notice: PEGA’s GenAI Blueprint Delivers Huge Q3 Beat

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management raised its stake in Pegasystems by 274.2% during the second quarter. Spire Wealth Management now owns 565 shares of the technology company's stock valued at $31,000 after buying an additional 414 shares in the last quarter. MAI Capital Management raised its position in shares of Pegasystems by 124.5% during the 2nd quarter. MAI Capital Management now owns 696 shares of the technology company's stock valued at $38,000 after acquiring an additional 386 shares in the last quarter. UMB Bank n.a. lifted its stake in Pegasystems by 159.8% during the second quarter. UMB Bank n.a. now owns 730 shares of the technology company's stock worth $40,000 after purchasing an additional 449 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Pegasystems by 335.7% in the second quarter. First Horizon Advisors Inc. now owns 732 shares of the technology company's stock worth $40,000 after purchasing an additional 564 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Pegasystems during the second quarter valued at $54,000. 46.89% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Alan Trefler sold 45,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $60.03, for a total transaction of $2,701,350.00. Following the transaction, the chairman owned 44,889,364 shares in the company, valued at $2,694,708,520.92. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 4,425 shares of the business's stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $67.25, for a total value of $297,581.25. Following the sale, the chief accounting officer directly owned 206 shares in the company, valued at approximately $13,853.50. The trade was a 95.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 196,895 shares of company stock valued at $11,802,002. Corporate insiders own 50.10% of the company's stock.

Wall Street Analysts Forecast Growth

• PEGA Surges 14%: There's Still Time to Ride This GenAI Innovator

A number of research analysts have recently issued reports on the stock. Rosenblatt Securities raised their price target on shares of Pegasystems from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, October 23rd. Wedbush raised their target price on shares of Pegasystems from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, October 23rd. Wall Street Zen lowered Pegasystems from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 22nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $80.00 price target (up from $70.00) on shares of Pegasystems in a research report on Wednesday, October 22nd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Pegasystems in a research report on Monday. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $69.61.

Check Out Our Latest Report on Pegasystems

Pegasystems Price Performance

• 3 Notable Stocks Just Split: Which One Could Be the Big Winner?

Shares of PEGA stock opened at $55.78 on Wednesday. Pegasystems Inc. has a 12-month low of $29.84 and a 12-month high of $68.10. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 37.44 and a beta of 1.09. The business has a 50 day simple moving average of $57.86 and a 200 day simple moving average of $54.87.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.12. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The firm had revenue of $381.35 million for the quarter, compared to the consensus estimate of $351.95 million. During the same quarter in the previous year, the business earned $0.39 EPS. The firm's revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities analysts anticipate that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, October 1st. Pegasystems's payout ratio is currently 8.05%.

About Pegasystems

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients' processes and workflows.

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